Conditions |
SME business loan – REPO /export/ |
Loan amount |
Up to 3,000,000,000/Three billion/ MNT
|
Loan interest /annual/ |
10.50% / Repo trading interest rate + 4 percentage points does not exceed/ |
Loan interest /month/ | Up to 2 years |
Service fee |
In the case of a new loan, it will not exceed 1% of the amount of the loan granted, or 1,500,000 MNT
|
Increased interest
|
Equal to 20% of the loan interest
|
Application fee |
30,000 MNT |
Period of Exemption from Basic Payments
|
At least 6 months
|
Other | Other requirements and conditions of the Bank of Mongolia |
Credit database reference fee | For each inquiry during the loan investigation /Citizen, Organization/ – 1,000 MNT |
*-According to the orders and decisions of the Bank of Mongolia, the terms of the products are subject to change from time to time. |
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SME business loan - REPO
SME business loan - REPO
Loan products for supporting small and medium-sized manufacturers and enterprises operating in the non-mining export sector6
Terms and conditions
Requirements
- Set by the Bank of Mongolia, which provides repo financing sources;
- As provided in Articles 4 and 5 of the Law on the Support of Small and Medium Enterprises and Services, citizens and industrial units with up to 200 employees and up to 2.5 billion annual sales revenues are eligible;
- Non-mining exports, manufacturing, services*, wholesale or retail trade with 200 or more employees;
Eligibility or required documents
- Loan application letter;
- Loan application /from Bank/;
- Resolution of the Board of Directors/Shareholders’ Meeting/ on a loan;
- A copy of the certificate and charter must be certified by a notary;
- Copy of identity card of the person authorized to sign the loan agreement;
- Other related documents;